2013 USDA Home Loan Map Changes in NC

We just received the “Official” word from USDA Home Loan Rural Development office that the proposed changes to the USDA Home Loan Maps are delayed until September 30, 2013.

The way we read the document, this is our “30 day notice” that as of the end of Business on September 30, 2013 – the map changes will go into effect. You must be fully approved as eligible under “today’s” guidelines by then.

On it could be a brand new deal for USDA Home Loans in NC!

It’s a great program for those seeking mortgage loan financing in a non-metro area of NC. The 3 basic requirements are that you have pretty good credit (640 is ideal), that the home is in an “Eligible Area” and your household income must be below the maximum level set for that County / Area.

Our suggestion is that you begin TODAY working on your specific pre-qualifications for the program! Do not WAIT until August to find a house! With the latest “scare” that maps would change, underwriting times were as long as 30 days! The system is simply not built for that kind of stress, and changes to the USDA Home Loan Maps will affect almost 1/3 of North Carolina!

Want to see how much you can qualify for, and get info on the BEST mortgage rates Available? Call Steve and Eleanor Thorne 919 649 5058 – find us on Facebook – add us to your Circles on Google + / we want to connect and find out how the housing market looks in YOUR corner of NC!

About Eleanor Thorne

I see myself differently than most loan officers in the Cary/Raleigh market. As a rare Cary native, I see myself as an expert on the area, on mortgage industry changes & factors that effect rates! I’ve lived in Cary since 1968 – and I’m second generation “mortgage.” I work with my husband, Steve Thorne Mortgage Loan Originator #60596 Equal Housing Lender